Becoming A Master Of Cutting Your Household Bills

When it comes to how we manage our money, finding the opportunity for savings here and there is always important. However, most of the time, we focus on savings on the things we buy in stores or online. What about the expenses that we have to deal with on a more recurring basis? The truth is that by looking at our bills and by learning how to cut them as best as possible, we are making longer-term savings that are much more likely to affect our financial health. Here are a few tips on just how to do that. * This is an advertorial.

Always be open to switching

When it comes to your household bills, one of the most effective ways to save money is to shop around, compare the deals with price comparison websites, and to choose whoever offers the best deal. The truth is that you are rarely going to get the best offer by simply sticking with your current provider. Loyalty often does not pay, as many of the best offers are specifically aimed at new customers, since they’re trying to attract them and are willing to take a small loss of profits to make sure that they win them over. Pay attention to when your contract with a current provider is over, and don’t feel any shame about immediately looking for whoever offers a better deal.

Get a better deal on your credit

Have you been using the same credit card for the past five years or more? If you’ve been responsible, paying off all your bills and managing your credit balance well, then your credit rating should have improved over time. You could be getting a better deal on your credit card and not even know it. As with many bills, you should always look to switch providers when a contract ends. For instance, you can look at switching to smart payment cards like Curve that can offer better terms on your credit, as well as the ability to manage more cards at once with one service provider. Better interest rates, more flexible repayments, and more could all be waiting for you if you haven’t looked at switching credit cards lately.

Look for referral programs 

When it comes to your usual bills, you might find that there isn’t too much difference between the providers of big utilities such as oil, electricity and the like. There might be a price difference here and there, but often they’re not too willing to offer significant deals. However, when it comes to mobile and sim card providers, that’s not the case at all. For instance, Smarty has a one month free sim campaign for those who refer a friend. Referral programs are often the most reliable ways to make big savings, so if your contract is up, consider comparing them from provider to provider.

Cut services that you don’t need

Nowadays, our bills aren’t just our necessary utilities, such as gas, electricity, internet, and mobile. They also account for the subscription services that we pick up. This might include online TV and movie streaming services, online gaming networks, and various apps we have installed on our phone over the months. However, it can be easy to forget these subscription services over time. Have a “money day” each month where you go over your bank balance and try to identify where you’re spending your money. If you see subscription services that you haven’t used over the past month, then it’s time to cut them. No point paying for what you’re not using. While you are at it, consider looking into the cost of public transport as opposed to owning a car. Selling your car when you need the money may be an option if public transport is easy and cheap for you.

Be more efficient with your utilities

Saving money when it comes to your utilities isn’t just about finding the best deal. It’s also about being mindful of how you use those utilities. This is especially true of how we use energy in the home. There are a lot of tips on how to save energy in the home. For instance, you can replace halogen lightbulbs with more efficient LED bulbs. You can look at old appliances such as refrigerators, heaters, and washing machines and invest in energy-saving technology. You can also be better about habits such as leaving appliances plugged in when you’re not using them, which results in your bills going up for practically no reason. Become a more efficient household and you will become a more cost-effective one, too.

Make sure that you’re not getting overcharged on Council Tax

Everyone has to pay annual fees charged by the local council for local services such as picking up rubbish, taking care of local libraries, and so on. This is your Council Tax. This is usually paid for ten months a year, but there are a lot of people who have found that they have been put in the wrong Council Tax band. In fact, up to 400,000 homes are estimated to be in the wrong Council Tax band. You can get in touch with your local council through the website to check whether you’re being overcharged. It’s not a guarantee, but there’s no point in not checking.

Pay your bills on time

It might sound like an exceeding simple tip, but it’s an essential one to follow. If you tend to be late with your bills, then that’s going to result in you paying so much more in late fees. If you have trouble paying, then it’s time to consider budgeting and cutting what you don’t need for your usual expenses. Otherwise, use financial tracking apps that can remind you when bills are due, so that you’re late by pure accident. You can also have your regular bills come out monthly by Direct Debit so you don’t have to actively pay them, but it’s important to track what’s going out if you rely on automatic payments.

Instead of focusing just on saving money with your purchases here and there, start to think about your long-standing financial agreements and what you can do to cut them down instead. Hopefully, the tips here help with that.

*Collaborative post

No comments